Consumer IoT device manufacturer Zimi Ltd has reported on its best-ever quarter to the end of September when it booked $521,000 in customer receipts for its devices.
The company sells a cloud connected dimmable light switch, fan controller, garage door opener, and power points, all connected and operated via its Zimi app (pictured).
The company said it would be fulfilling 30,000 device orders worth of $1.7 million, to customers including LED lighting manufacturer Beacon Lighting, GSM Electrical, Steel-line Garage Doors and Polyaire.
The company reported R&D payments of $416,000 for the quarter, and manufacturing costs of $147,000 which included securing chips and electronic components in a period of global shortages.
However production levels were maintained by the company.
ZIMI CEO Brett Savill said: “This has been an important quarter for the company.
“We have begun delivering on our major orders notwithstanding Covid-19, we have signed up the first integration partner in Polyaire, onfe of the country’s leading air conditioning suppliers, (and) finally a very successful capital raise gives us the funding to accelerate our growth strategy.”
Polyaire placed an order for5,000 IoT-powered devices worth $300,000 which it will integrate with its HVAC systems manufactured in Australia..
The company raised $2.26 million in the quarter, finishing with a cash balance to $3,767,000.
Picture: Zimi Ltd
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